Gold Prices Reach Daily Lows As US Dollar Strengthens

New York (Aug 30)  Gold prices are trading moderately lower in morning U.S. dealings Thursday. The yellow metal was steady to slightly lower at the start of U.S. futures daytime trading, but have dropped as the U.S. dollar index has pushed to its daily high and is trading moderately up. The greenback is being supported today partly on fresh worries about secondary currency markets continuing to erode against the dollar. Gold bulls are presently frustrated their precious metal has not responded to those concerns, at least not yet. December gold was last down $8.50 an ounce at $1,203.00.

By 10:50am EST spot gold had reached a low of $1,196, but bounced up to $1,200.

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